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The rand and South African government bonds extended losses after President Zuma asked Finance Minister Gordhan to cut short an investor roadshow, fueling speculation of a cabinet reshuffle. The rand traded about 2% weaker against the dollar early on March 28.
A weaker rand on political speculation makes South African currency movements volatile, a modest factor for feed ingredient import costs.
moneyweb.co.zaOlivia Kumwenda-Mtambo, ReutersMar 28, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
